According to Craig Donohue, CEO of the Chicago Mercantile Exchange (CME), the extension into China will help the country increase its economy by educating financial organizations about futures and options contracts which provide hedging and risk management tools.
Highlights of the new web site include CME company and product information, and financial news issued by Reuters. The Exchange also offers portions of its web site in five other languages, including French, German, Italian, Japanese and Spanish.
The launch of the Chinese web site is the latest in CME’s international initiatives, including the signing of the Memorandums of Understanding with the China Foreign Exchange Trading System & National Interbank Funding Center in June 2004 and the Shanghai Stock Exchange last month, which will create forums for information sharing about derivatives products in China.
In addition to the attempted progression in China, the Exchange is reportedly looking to consolidate its presence in Asia by establishing an Asian-based telecommunications hub in Singapore in the second quarter of 2005.
